Biomarker Test Market Reaches USD 16,112.8 Mn. By 2022

Pune, India, September, 2018 /press release/- Market Research Future Published a Cooked Research Report on Biomarker Test Market Research Report.

The biomarker test market is growing pervasively at the rapid pace; mainly due to the increasing prevalence of infectious diseases and the technological advancements transpired in the biomarkers field. Simultaneously, the rising demand for diagnosis and treatment of diseases associated with the old age escalates the market growth on the global platform.

Acknowledging the accruals, the market is garnering currently, Market Research Future (MRFR) in its recently published study report, asserts that the growth of the global biomarker test will reach USD 16,112.8 Mn. by 2022, registering a staggering double digit CAGR of 14.5 % from 2016 to 2022. 

 Additional factors substantiating the market growth include the widened uptake of biomarkers technologies, increasing research and development activities transpired into the field of biomarker test, increasing number of contract research organizations and the cost-effective clinical trials. The spreading awareness towards the companion diagnostics along with the growing demand for personalized medicine is contributing to the market growth to an extent.

On the other hand, ethical and regulatory issues alongside the inaccurate diagnosis for fatal diseases are some of the factors obstructing the market growth. Nevertheless, government grants and initiatives undertaken towards increasing the R&D activities in the field are expected to support the market growth.

Most healthcare professionals use diagnostic tests to clarify and support their clinical decision. Over the recent years, other analytic procedures have turned out to be progressively stronger due to the need to preselect patients in light of medications and licenses. This shift further has come to, through various factors that drive the technology, empowering professionals to measure accurate markers, improved comprehension of the disease procedure, and a more prominent energy about the uniqueness of an individual's tumor at the molecular level.

Biomarker Test Market - Segmentation

The MRFR analysis is segmented into three key dynamics for the convenience of understanding;

By Application       : Comprises Cancer, Cardiovascular, Infectious Diseases, and Central Nervous System, among others.

By End-user             : Pharma & Biotech Companies, Diagnostic tool companies, Healthcare IT/Big data companies, and Clinical Laboratories, among others.

By Region                : North America, Europe, APAC and the Rest-of-the-World.

The subsegment - Cancer accounts for the largest segment on the basis of applications and is expected to reach USD 5,395.6 Mn. by 2022.

The subsegment - Pharma & Biotech companies, by end-users, holds the largest market share in the global biomarker test market and is expected to worth USD 5,451.8 Mn. by the end of the forecast period.

Access Report @ https://www.marketresearchfuture.com/reports/biomarker-test-market-3570

Biomarker Test Market -

Regional Analysis

Globally, the North American region accounts for the largest market for biomarker test. Owing to the demanding research and development initiatives, the market is expected to reach USD 6,640.4 Mn. by 2022, creating a large revenue pocket. Factors substantiating the market growth include high healthcare expenditures and substantial investments in the R&D activities in the field of diagnosis, prognostic treatments, and drug formulation.

Europe accounts for the second-largest market for biomarker test which is expected to grow at a considerable CAGR. Favorable governmental support and initiatives drive the growth in the market extensively. The proliferating healthcare sector in the region, backed by the resurging economy is fostering the market growth brilliantly.

Whereas, the Asia Pacific biomarker test market is proliferating, emerging as one of the lucrative markets, globally. Countries in the Asian region especially, provide immense growth opportunities for the biomarker test market, accounting over half of the world’s total population.

Furthermore, private equity firms and venture capitalists are increasingly investing in the biomarker test market in countries, such as India, China, and Japan.  The biomarker test market in the APAC region is expected to grow at a CAGR of 15.2% during the forecast period from 2016 to 2022.  

Biomarker Test Market - Competitive Analysis

The global biomarker test market appears to be highly competitive. Key players are focusing on optimizing situational awareness towards customers to ensure their mission success. Matured players are increasingly seeking market expansion through various strategic activities such as M&A, innovation, increasing investments in R&D and cost-effective product portfolio.

These players possess state of the art developing labs and a strong sales and distribution network which have helped them to gain the leadership position in the market. An ever-increasing emphasis has been observed among dental industry marketers on inbound lead generation over branding-oriented efforts.

Key Players:

The market leaders profiled in the MRFR analysis include Novartis AG., Hoffmann-La Roche AG, PFIZER INC., GE Healthcare, GlaxoSmithKline plc., Quest Diagnostics, and Medtronics.

Industry/Innovation/Related News:

September 11, 2018 – Exagen Diagnostics, Inc. (US), a rheumatology specialty company launched a blood test for rheumatoid arthritis (RA) biomarker.  The company claims it to be the world’s first validated blood test to detect anticarbamylated protein antibodies, which have been found to be significantly elevated in patients with RA.